SpeechReaching our inflation aim: a two-stage approach
The monetary policy challenge consists of two stages, says Chief Economist Philip R. Lane at Jackson Hole. First, we must counteract the negative shock to the expected inflation path. Second, our post-pandemic policy must be calibrated to ensure timely convergence to our medium-term inflation aim.
|Marginal lending facility||0.25 %|
|Main refinancing operations (fixed rate)||0.00 %|
|Deposit facility||− 0.50 %|